Couple questions

[341Done]

I had my 341 done on Feb. 2nd and it was a quick one. Whew! Since I filed Pro Se I went last out of about 10 others and some were not quick nor pretty. The trustee had a continuance on one guy and pretty much told him he lied about his wages. That guy was pretty mad. Oh well, tell the truth next time, dude.

Anyway, onto my questions:

I am surrendering a 2006 Yamaha 650 motorcycle that I owe $5600 on and the trade-in value is $3380 on Kelly Blue Book. Has the creditor been notified automatically that I intend to surrender the bike because I filed or do I need to contact them? I filed on 12/31/08 and I thought I read that I had to contact them within 45 days of filing or my 341 meeting. Not sure which. Can someone clarify?

Also, what are the chances I will just get to keep the bike? It has 10,000 miles on it. I would love to be able to keep it and then sell it so I can pay off money I owe to my brother but is that just wishful thinking? How many of you were about to keep secured property that you intended to surrender?

Another question: I finished my second credit counseling requirement. Do I need to notify the trustee or someone about it?

Anyway, what a tough year last year was for me and probably for all of us. This year looks crazy too. There have been layoffs at work and my hours have been cut and my health insurance rate quadrupled but at least I am almost done with my BK.

I just registered here but was reading this forum for a few months now. Thanks for the information.

And good luck in 2009.

[SevenFilerCA]

I don't know about the bike, but I do know you have to file the proof of the 2nd financial education course with the court. They should have given you a form to submit with the proof. I was given a copy of the form:

* at the time of filing
* through the mail after filing
* at the time I submitted amendments
* at my 341 meeting

So I have plenty of them! Hopefully you've got one there in your papers.

[keepmine]

You should have checked your intentions on the schedules. Did you check the box labled surrender? If so, they're notifed. Once the bk is discharged is when they'll likely snaggle the bike.
You won't be able to sell it since, they won't give you a title to the bike even if they do abandon it.

[341Done]

I'll have to look for that form to submit for credit counseling. I don't remember ever getting one. Thanks.

Yes, I did check the Surrender box. Cool. That's in their hands now then. Okay.

Really? If they abandon the bike they won't give me the title? Geez, that seems wrong. It would legally be mine but I can't sell it? I know you already said that but I'm just shocked. I don't expect them to abandon it anyway but it would be good for me if they did. I suppose I'd just keep it and have fun with it then.

Could I sell it and write some kind of contract that there's no title? Would that be legal?

Thanks.

[nervousss]

You could just sell it on craigslist and write a contract. Is it legal? Don't know!

[keepmine]

Guys, I'd not attempt to transfer that bike unless, you get clearnence from your states DMV.

[341Done]

Update

I emailed my Trustee a couple days ago and asked him if I needed to send the Certificates for the two schools. He said no. Maybe in my district(Southern Ca.) it's sent electronically.

I also asked him if the creditor for my motorcycle loan was automatically informed of my Intent to Surrender. He said to be on the safe side I should just contact them anyway.

I wonder if I should tell them the bike has 10,000 miles on it and it's a 2006 and all the paint fell off. Kidding about the paint. I just want them to abandon the bike so I can have it. Not to be greedy but it would be a nice gesture on their part.

There's got to be a way to get the title so I can sell it if they do abandon it. I wonder what the chances are for abandonment.

I guess I'll just have to wait and see.

[brokenbuthealed]

They may abandon it, but that doesn't release the collateral lien against it. That just means the trustee isn't going to sell it. The creditor can still enforce the collateral lien by requiring the payoff in order to release the title or repossesing the bike. They just can't pursue you to collect money owed.

[dingdong]

You need to file your Financial Management Course certificate with the court. There is a form you sign stating that you took the course and you need to send in a copy of the certificate you received from the company that you took the course with.

If you don't you can get dismissed for failing to file the certificate.

You have 45 days from the date of your first 341 hearing date to file it.

DO NOT forget to file it, mail it in. You can find the form you need to fill out and send in w/your certificate in PDF format on your disctricts BK website.

Your filing will be considered deficient without it.

If you have an attorney he most likely did it for you but check to be sure.